CoStar Group, Inc. (NASDAQ:CSGP) Shares Sold by Azimuth Capital Investment Management LLC

Azimuth Capital Investment Management LLC lessened its stake in shares of CoStar Group, Inc. (NASDAQ:CSGP) by 3.7% in the fourth quarter, Holdings Channel.com reports. The fund owned 106,041 shares of the technology company’s stock after selling 4,023 shares during the quarter. Azimuth Capital Investment Management LLC’s holdings in CoStar Group were worth $7,591,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of CSGP. Hopwood Financial Services Inc. acquired a new position in shares of CoStar Group in the 4th quarter valued at $25,000. ORG Partners LLC lifted its stake in CoStar Group by 534.8% during the fourth quarter. ORG Partners LLC now owns 419 shares of the technology company’s stock valued at $30,000 after buying an additional 353 shares in the last quarter. SBI Securities Co. Ltd. acquired a new position in shares of CoStar Group in the fourth quarter worth about $30,000. Harel Insurance Investments & Financial Services Ltd. purchased a new position in shares of CoStar Group in the fourth quarter worth approximately $32,000. Finally, Annis Gardner Whiting Capital Advisors LLC raised its holdings in shares of CoStar Group by 414.4% during the fourth quarter. Annis Gardner Whiting Capital Advisors LLC now owns 499 shares of the technology company’s stock valued at $36,000 after acquiring an additional 402 shares during the period. 96.60% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

CSGP has been the topic of several research analyst reports. Stephens reiterated an “overweight” rating and set a $103.00 price objective on shares of CoStar Group in a research report on Tuesday, February 18th. William Blair began coverage on CoStar Group in a report on Friday, February 28th. They set a “market perform” rating on the stock. Citigroup reduced their price objective on CoStar Group from $88.00 to $86.00 and set a “buy” rating for the company in a research note on Thursday, February 20th. Needham & Company LLC lowered their target price on CoStar Group from $100.00 to $87.00 and set a “buy” rating on the stock in a research note on Wednesday, February 19th. Finally, Wells Fargo & Company reduced their price target on shares of CoStar Group from $65.00 to $63.00 and set an “underweight” rating for the company in a research report on Wednesday, February 19th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat.com, CoStar Group currently has a consensus rating of “Moderate Buy” and an average price target of $88.07.

Insider Activity at CoStar Group

In other CoStar Group news, CAO Cynthia Cammett Cann sold 1,749 shares of CoStar Group stock in a transaction on Monday, March 10th. The shares were sold at an average price of $79.90, for a total transaction of $139,745.10. Following the sale, the chief accounting officer now owns 29,456 shares in the company, valued at $2,353,534.40. The trade was a 5.60 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 1.57% of the stock is owned by corporate insiders.

CoStar Group Price Performance

NASDAQ CSGP opened at $73.23 on Wednesday. The stock has a 50-day simple moving average of $77.18 and a 200 day simple moving average of $75.71. CoStar Group, Inc. has a twelve month low of $68.26 and a twelve month high of $95.71. The stock has a market capitalization of $30.03 billion, a PE ratio of 209.23 and a beta of 0.88. The company has a debt-to-equity ratio of 0.13, a quick ratio of 9.63 and a current ratio of 8.96.

CoStar Group (NASDAQ:CSGP) last posted its quarterly earnings data on Tuesday, February 18th. The technology company reported $0.22 earnings per share for the quarter, meeting the consensus estimate of $0.22. The company had revenue of $709.40 million during the quarter, compared to analysts’ expectations of $703.00 million. CoStar Group had a return on equity of 3.11% and a net margin of 5.07%. Research analysts anticipate that CoStar Group, Inc. will post 0.94 EPS for the current year.

CoStar Group announced that its Board of Directors has authorized a stock repurchase plan on Tuesday, February 18th that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the technology company to repurchase up to 1.6% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board believes its shares are undervalued.

CoStar Group Profile

CoStar Group, Inc provides information, analytics, and online marketplace services to the commercial real estate, hospitality, residential, and related professionals industries in the United States, Canada, Europe, the Asia Pacific, and Latin America. The company offers CoStar Property that provides inventory of office, industrial, retail, multifamily, hospitality, and student housing properties and land; CoStar Sales, a robust database of comparable commercial real estate sales transactions; CoStar Market Analytics to view and report on aggregated market and submarket trends; and CoStar Tenant, an online business-to-business prospecting and analytical tool that provides tenant information.